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Turkish Prime Minister Recep Tayyip Erdogan is seeking to limit the economic costs of picking the losing side in the regional power struggle over Egypt.Turkey is courting investors from the Arab monarchies that backed Egypt's new military rulers with billions of dollars in aid. The Abu Dhabi National Energy Co., known as Taqa, froze a $12 billion power project in Turkey after Morsi's fall, while Turkish exports to Egypt have declined. Efforts to repair the damage include visits to the Gulf by President Abdullah Gul and Finance Minister Mehmet Simsek, as well as a real estate and energy conference for Arab investors in Istanbul. The unrest that has spread through the Arab world since 2011 has undermined Erdogan's efforts to cultivate ties with Muslim Arab countries that had been neglected by more secular-minded Turkish governments in the past.Egypt's new military rulers recalled their envoys from Ankara, and 43 Turkish investors in Egypt had their business licenses or visas revoked, forcing them to cut ties with the country, Turkey's Sabah daily reported.Erdogan said last month that they're close to "a normalization process".
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